News
Toward Good Regulation—From Crisis to Confidence
27-Dec-2015
IFAC Paper Examines Principles of Good Regulation Ahead of Roundtable Discussions
NEW YORK – The evolving global regulatory environment and its role in improving growth, investment, and stability is the subject of a new International Federation of Accountants® (IFAC®) discussion paper that was launched, entitled “From Crisis to Confidence: the Role of Good Regulation”.
The paper focuses on the importance of globally consistent “good regulation” to underpin confidence in the global economy. It examines the impact, benefits, and costs of the current regulatory landscape, and compares internationally recognized principles of good regulation.
“Good regulation is essential to the fairness, efficiency, and effectiveness of economies. Making regulation work in the public interest is a never-ending mission,” said Fayezul Choudhury, IFAC Chief Executive Officer. “Our discussion paper will facilitate a focused conversation on how regulatory responses to financial crises have played out, where the issues stand today, and what the lessons are.”
“During the immediate pressure of crisis decision making, such reflection is not always possible,” said Mr. Choudhury. “Taking stock now is essential. Strengthening the global financial system’s capacity to anticipate, respond, and collaborate is paramount—especially before the next inevitable shock to challenge the global economy.”
IFAC is seeking written comments from the research community on key regulatory issues including: What has been achieved, what is working well, and what problems are emerging? What are the main costs and impacts? What is good regulation? Please contact Amir Ghandar, Senior Policy Adviser, Public Policy and Regulation, at AmirGhandar@ifac.org for more information.